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13 Firms Getting Bailout Money Owe Back Taxes

In a Hill hearing underway, Rep. John Lewis (D-Ga.) revealed that 13 firms receiving government bailout money owe more than $220 million in back taxes.

Two of the firms, Lewis said, owe more than $100 million apiece.

The news comes as the public outrage over behavior of companies receiving government bailout money is high, following the revelation that bailed-out insurance giant AIG granted more than $165 million in bonuses.

"This is shameful. It is a disgrace," Lewis said. "We are going to get to the bottom of what is going on here."

Lewis did not name the firms. He said the House Ways and Means subcommittee that he chairs discovered the delinquent taxes when reviewing the performance of companies getting bailout money.

-- Frank Ahrens
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By Frank Ahrens  |  March 19, 2009; 10:56 AM ET
Categories:  The Ticker  | Tags: bailout  
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Comments

Guess Leona Helmsley was correct! Only the
'little people' like me pay taxes.

Posted by: jslivesay | March 19, 2009 11:51 AM | Report abuse

No surprise here. The Corporate business screed flaunted by the Business Roundtable and Financial Services Roundtable compels behavior that makes their narrow private hegemony larger than any government or nation-state. Now we know greed may be cunning, but it is devoid of intelligence.
Make 'em pay and fine 'em. Or maybe do what FDR did to Sewell Avery and Montgomery Ward Co. in December 1944 - bodily remove the CEO and militarily occupy the corporate offices 'til we get civilized compliance with the nation's laws and restitution of embezzled, stolen and swindled monies is made to the nation. Corporate sovereignty is a predatory legal fiction.

Posted by: mihalovitch | March 19, 2009 12:02 PM | Report abuse

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